Azerbaijan mulls application of Islamic financial instruments with ICD

The Central Bank of Azerbaijan and the Islamic Corporation for the Development of the Private Sector (ICD) have discussed the use of Islamic financial instruments in Azerbaijan and their role in diversifying funding sources, Report informs referring to the regulator.

The discussions took place during a meeting between Deputy Chairman of the CBA Ali Ahmadov and a delegation led by Chief Investment Officer and General Manager of the Banking Department of ICD Bahaaledine Kirimly.

Prospects for cooperation were also discussed at the meeting.